Insecticides India Limited IPO receives 1.97 times subscription

The Initial Public Offering of Insecticides (India) Limited has received subscription of 1.97 times. The company's IPO opened for subscription on May 07, 2007 and closed on May 11, 2007. The shares were offered in a price range of Rs.97/- to Rs.115/-

Out of the total issue of 3210000 equity shares, the company received bids for 6317100 shares. Out of the subscription bids were received at cut-off price for 4753440 shares.

Out of the issue, Qualified Institutional Buyers (QIBs) portion received subscription of a meagre 0.3214 times with bids for 510720 shares against the offer of 1588950 shares. The Non Institutional Investors portion received bids for 774240 shares against the offer of 476685 shares resulting in a subscription of 1.6242 times. The Retail Individual Investors (RIIs) portion received subscription of 4.4893 times with bids for 4993320 shares against the offer of 1112265 shares. The Employees portion received bids for 38820 shares against the offer of 32100 shares resulting in subscription of 1.2093 times.

Source : Equity Bulls

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